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By Iyke Mba
30/05/2024
The news of mass retrenchment in any organization is always a cause for concern for the public. And when it involves a prominent institution like the Central Bank of Nigeria (CBN), it becomes a matter of national interest.
On Wednesday, the House of Representatives, presided over by the deputy speaker Rt Hon Benjamin Okezie Kalu took a significant step towards addressing the issue by passing a resolution to look into the mass retrenchment exercise by the CBN.
During the plenary session on Wednesday, Jonathan Gaza from Nasarawa state sponsored a motion, which was unanimously adopted by the lawmakers.
The motion highlighted the downsizing of the CBN workforce, resulting in the dismissal of over 300 employees, including directors, deputy directors, assistant directors, principal managers, senior managers, and lower-ranking officials.
Gaza, in his motion, expressed concerns about the extensive reform taking place in the CBN, which has reportedly affected close to 600 employees, including directors.
He also emphasized the importance of meritocracy in institutions and the need to maintain and sustain strong institutions.
The motion, which was adopted without debate, has mandated the committee on banking regulations and federal character to investigate the circumstances surrounding the mass retrenchment and report back within four weeks.
This decision has been welcomed by the public as it is a step towards finding out the truth behind the dismissals and ensuring that justice is served.
It is essential to note that the CBN is a crucial institution in Nigeria’s economy, responsible for regulating monetary and financial activities.
Any changes in its workforce and operations can have a significant impact on the country’s financial stability. Hence, the House of Representatives’ decision to look into the matter is a positive and responsible move.
The motion has also brought to light the concerns and controversies among the masses and stakeholders, including the affected employees and labor unions.
The public is eagerly awaiting the report of the committee, and it is hoped that it will shed light on the reasons behind the mass retrenchment exercise.
In this age of transparency and accountability, it is vital for public institutions to operate with integrity and follow due process in their decision-making.
The resolution by the House of Representatives serves as a reminder to the CBN and other institutions to uphold these values and ensure that the rights of their employees are protected.
Let me conclude by saying that the House of Representatives’ decision to probe the mass retrenchment exercise by the CBN is a significant step towards addressing the concerns and controversies surrounding the issue.
The public is hopeful that the committee’s report will bring clarity and justice to the affected employees and help prevent similar incidents in the future.
Details below.
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๐.๐.๐ผ ๐ฟ๐๐ฅ๐ช๐ฉ๐ฎ ๐๐ฅ๐๐๐ ๐๐ง ๐.๐.๐
https://igbopatriotsmagazine.blogspot.com/2024/05/blog-post_30.html
